Fed's Daly Says Credit Tightening From March Banking Stresses Is Probably Less Than The Quarter-point To 50 Bps Rate Hike I Have Thought
Portfolio Pulse from Happy Mohamed
Federal Reserve's Daly has stated that the credit tightening from banking stresses in March is likely less than the quarter-point to 50 basis points rate hike that was previously anticipated.
July 10, 2023 | 3:49 pm
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NEUTRAL IMPACT
The statement by Fed's Daly may have an indirect impact on SPY as it reflects the overall economic conditions and monetary policy, which can influence the performance of the companies within the S&P 500.
While SPY is not directly mentioned, the ETF is a broad representation of the US stock market. Therefore, any significant changes in the monetary policy or economic conditions, such as credit tightening, can indirectly influence the performance of the companies within the S&P 500, and thus, the SPY ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50